I'm so happy for having moved all of my content from G Suite to a self-hosted Nextcloud instance long ago. Now that Google has come up with this announcement, I simply decided to remove those services from my account (I had even forgotten that I still had them). All of my data and cloud services are safely stored somewhere else. Google's ransom strategy doesn't apply to me.
If you haven't don't so yet, move to a self-hosted solution. Remember that there's no cloud, it's just somebody else's computer. And if the guy who runs that computer decides that you have to start paying more for it, you don't want to find yourself in a situation where you have no options but to accept - unless you want to give up your data. Google's ransom policies have started to become so obvious: the more evil somebody becomes, the more banal and predictable their actions.
If you haven't don't so yet, move to a self-hosted solution. Remember that there's no cloud, it's just somebody else's computer. And if the guy who runs that computer decides that you have to start paying more for it, you don't want to find yourself in a situation where you have no options but to accept - unless you want to give up your data. Google's ransom policies have started to become so obvious: the more evil somebody becomes, the more banal and predictable their actions.